good natured Products Inc. Signs Multi-Year Contract with Large U.S. Food Producer
VANCOUVER, BC, July 12, 2022 /CNW/ - good natured Products Inc. (the "Company" or "good natured®") (TSXV:GDNP) (OTCQX: GDNPF), a North American leader in plant-based products, today announced it has formally signed a multi-year commercial contract with the large U.S. food producer previously referenced in a press release dated October 12, 2021. The contract outlines a three-year agreement whereby good natured® will supply the customer with multiple packaging designs using Bio-PET-based material and recycled content being produced at the Company's in-house manufacturing facilities in Ontario and Illinois. The Company continues to anticipate revenue of approximately USD $13 million in the first year based on the terms of the agreement. Volumes in the first year are expected to fluctuate on a quarterly basis to match product seasonality, as well as the rollout timing of new products to the producer's retail customers.
"We're extremely excited to announce the signing of the largest organic commercial agreement to date at the Company and have been actively engaged with shipping significant volumes of product to this client since the initial announcement was made," said Paul Antoniadis, CEO of good natured®. "The contract is a testament to the robust plant-based commercial offering we're taking to market, the increased scale of our operational capabilities, and our relentless pursuit of driving the adoption of sustainable materials and growing market share, even during this inflationary environment."
The good natured® corporate profile can be found at: investor.goodnaturedproducts.com
About good natured Products Inc.
good natured® is passionately pursuing its goal of becoming North America's leading earth-friendly product company by offering the broadest assortment of plant-based products made from rapidly renewable resources instead of fossil fuels. The Company is focused on making it easy and affordable for business owners and consumers to shift away from petroleum to better everyday products® that use more renewable materials, less fossil fuel, and no chemicals of concern.
good natured® offers over 400 products and services through wholesale, direct to business, and retail channels. From plant-based home organization products to certified compostable food containers, bio-based industrial supplies and medical packaging, the Company is focused on making plant-based products more readily accessible to people as a means to create meaningful environmental and social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
[email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release. |
Information regarding the multi-year contract contained in this press release may constitute forward-looking information within the meaning of securities laws. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement.
When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to herein will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
Other than as required under securities laws, we do not undertake to update this information at any particular time.
Forward-looking information contained in this news release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.
SOURCE Good Natured Products
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